What are indicators telling you?They tell you what happened in the past,often this has no relevance to where price is going in the future.Imagine yourself using a car indicator after where the turn should be made.Bonkers.

All those S and p and index traders, say price will remain at this level or that level or the following number will come on the roulette.Its gambling not trading.

Price will remain here or won't go there, its caught between two extremes on range trading .Here the risk reward is very low , cause it is caught between two levels, infact it could be 50 /50 coin toss= no edge.In a trend your risk reward ratio goes up. if you pick strong trends.

The best traders are trend followers, traders who just follow a simple set of trend following rules.These rules are entry,exit , stop and reverse based on price. Successful trading is that simple and does not require much intelligence.

They do not think for themselves about trading set ups ,and do not hesitate and are immune to fear and greed cause they know nothing to fear from.No fancy indicators are used by them , just price .

This method has worked for a hundred years.The trend is your friend.
O D T

This is remarkably accurate, oddly

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What are indicators telling you?They tell you what happened in the past,often this has no relevance to where price is going in the future.Imagine yourself using a car indicator after where the turn should be made.Bonkers.

Isn't there a contradiction here? You say that indicators are telling you what happened in the past, but isn't that exactly what trend-following is?

"It's trended up in the past, therefore it will trend up in the future therefore I will buy".

Quote:

In a trend your risk reward ratio goes up. if you pick strong trends.

And how do you pick strong trends?

The strongest of trends come to an end.

How do you know when it's going to end?

I know there are supposed to be technical ways of doing this, which seem to work sometimes, not always, but if it is indicator-based, then it falls into the category of telling you what happened in the past, as you mentioned above, so I don't see how this gets you further forward.

I am currently of the opinion that it's a balance/mixture of technicals and fundamentals, and knowing when to use which, and to what degree. Easier said than done though.

__________________
Regards,
Mike
--
Still learning my trade.

Just because it worked, it doesn't mean that it works.
Think of losing trades as your training fees.

And how do you pick strong trends?depends on each market,price,volatility,daily ranges and breakdown

The strongest of trends come to an end.

not much skill is required to trade trends and spot exhaustion/stall in price /reversal on lower t/f

How do you know when it's going to end?exhaustion,reversal,momentum

I know there are supposed to be technical ways of doing this, which seem to work sometimes, not always, but if it is indicator-based, then it falls into the category of telling you what happened in the past, as you mentioned above, so I don't see how this gets you further forward.

I am currently of the opinion that it's a balance/mixture of technicals and fundamentals, and knowing when to use which, and to what degree. Easier said than done though.

only need to pick small bits of trends , not the whole trends and the only the highest probability bit of the trends.Money management and positive expectancy is the key to successful trading..

As Mr charts said "This is about taking bites out of trends repeatedly and consistently."
The above is a very wise statement.

That is the problem : Ranges easy to trade , but strong moves are dangerous .....
Also I don`t trade long downtrends , they are too negative ....
Pyschological trading is more profitabel for me than logical indicators trading ....

I feel the move is coming , but what direction ???

Quote:

Originally Posted by oildaytrader

only need to pick small bits of trends , not the whole trends and the only the highest probability bit of the trends.Money management and positive expectancy is the key to successful trading..

As Mr charts said "This is about taking bites out of trends repeatedly and consistently."
The above is a very wise statement.